Although the container ship “Ever Given” was fortunately freed after less than a week blocking the Suez Canal, the consequences for owners and operators due to the delays caused may last for several weeks or even months.
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As a result of a rising number of shipments of industrial raw materials such as bauxite, coal and iron ore being transported under COAs, BIMCO is working on a new standard form of contract of affreightment (COA).
BIMCO’s approval body for contracts and clauses gathered on 23 February to discuss a highly topical agenda. Two contracts of affreightment and a contract for conversion work on ships were adopted. Split views on whether adopting the ETSA Clause was premature postponed the adoption of this clause.
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Although the container ship “Ever Given” was fortunately freed after less than a week blocking the Suez Canal, the consequences for owners and operators due to the delays caused may last for several weeks or even months.
BIMCO’s Documentary Committee (DC) will have a busy agenda when they meet on 5 December. The DC will consider for approval new sanctions clauses for time and voyage charter parties. They will also review progress on a new edition of GENCON and be asked to provide feedback on other projects ranging f... Please follow the link to continue reading.
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